Additional Subsidies Be Allocated For Saving Energy – Upgrading Homes Program in Cyprus

Участникам плана энергетической модернизации домов на Кипре выделены дополнительные субсидии от государства
3 June 2021 Liza Medvetskaya
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Cyprus' Ministry of Energy, Commerce, Industry and Tourism (ΥΕΕΒ) said on Wednesday, June 2, that residents of the country have shown increased interest in the plan for energy modernization of homes.

Μore than 3 thousand applications were filed within less than three months, the total amount of which is €30 million.

The budget allocated for the needs of the current plan has been exhausted. Therefore, the Ministry, in consultation with DG EPSA, which acts as the governing body of the co-financed funds, decided to provide additional subsidies to the scheme participants in the amount of €5 million to meet all current applications. Thus, the total amount of state support increased to €35 million.

Участникам плана энергетической модернизации домов на Кипре выделены дополнительные субсидии от государства

As you may know, the project "Saving Energy – Upgrading Homes" was launched in Cyprus on March 9, 2021.

The new government support scheme is based on the commitment of Cyprus to switch to clean energy under the Paris Agreement, which regulates measures to reduce the carbon dioxide content in the atmosphere from 2020.

Cyprus should reduce greenhouse gas emissions by at least 40% by 2030, increasing energy efficiency by at least 32.5%. Therefore, in an effort to achieve these goals, the country's authorities have developed a plan to modernize Cypriot houses, which will make them more energy efficient.

Permanent residents of the country can take part in the program. At the same time, an urban planning permit for real estate in Cyprus must be issued no later than December 21, 2007.

Subsidies can be obtained when purchasing and installing new equipment and materials, when the project as a whole meets certain criteria (for example, reducing energy consumption by 50% and meeting the criteria for issuing an energy passport with a minimum rating of B). In addition, the costs of an expert opinion, thermal insulation of vertical and horizontal surfaces, as well as the installation of new windows and doors, shading systems, water heating, air conditioners, etc. are taken into account.

The subsidy covers 60% of the costs (80% for vulnerable groups), the maximum payment for the modernization of a house is €15 thousand, and apartments - €10 thousand. If energy consumption is reduced to a level close to zero, the subsidy can be increased to €25 thousand and €20 thousand, respectively.

Each application must be accompanied by an expert opinion based on the results of the building's energy audit. The payment of the subsidy is made after the work is completed and checked by a representative of the ministry.

Source: inbusinessnews.reporter.com.cy
Photos: DOM LiVE, pixabay.com
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